The Shareholders Foundation announces that an investigation on behalf of current long-term investors in shares of Medtronic, Inc. (NYSE:MDT) shares is ongoing over potential breaches of fiduciary duties by certain officers and directors at Medtronic.
Investors who purchased shares of Medtronic, Inc. (NYSE:MDT) and currently hold any of those NYSE:MDT shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Medtronic, Inc. (NYSE:MDT officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
On June 15, 2014, Medtronic, Inc. (NYSE:MDT) and Covidien plc (NYSE: COV) announced that they have entered into an agreement under which Medtronic has agreed to acquire Covidien in a cash-and-stock transaction valued at $93.22 per Covidien share, or a totalof approximately $42.9 billion, based on Medtronic’s closing stock price of $60.70 per share on June 13, 2014. Under the terms of the proposed takeover, Covidien plc (NYSE:COV) shareholders will receive $35.19 in cash and 0.956 shares of Medtronic for each share of Covidien plc (NYSE:COV) stock they own, representing an approximate value of $93.22 per Covidien share.
In June 2013 a lawsuit was filed against Medtronic, Inc. over alleged securities laws violations. The plaintiff alleges that between December 8, 2010 and August 3, 2011 defendants allegedly issued false and misleading statements to the investing public regarding the use of Medtronic Inc’s INFUSE(R) Bone Graft product for reduction of pain and complications associated with treating degenerative disc disease.
Those who purchased shares of Medtronic, Inc. (NYSE:MDT), have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com